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Real 348 values

Discussion in '348/355' started by J Ingram, Oct 2, 2015.

  1. J Ingram

    J Ingram Formula Junior

    Aug 12, 2006
    423
    Moreno Valley, CA
    Full Name:
    Jesse Ingram
    I have a pristine, '92 348 to that I bought about one year ago. It had the engine out major service with timing belts , fluids, filters, etc. I have seen prices from the low 40s up to the 70s. What would a fair market value be for retail sale, private sale or trade in be in today's market? Just curious with all the prices of 308s and 328s going through the roof.
     
  2. itsablurr

    itsablurr Formula Junior
    Silver Subscribed

    Dec 9, 2005
    953
    Carlisle, MA
    Full Name:
    Matt
    What is the mileage and int/ext condition?
     
  3. yelcab

    yelcab F1 Veteran
    Consultant

    Nov 29, 2001
    9,947
    San Carlos, CA
    Full Name:
    Mitchell Le
    I am hoping my Factory Challenge 1994 348 TB will fetch an handsome sum if I let it go.
     
  4. J Ingram

    J Ingram Formula Junior

    Aug 12, 2006
    423
    Moreno Valley, CA
    Full Name:
    Jesse Ingram
    #4 J Ingram, Oct 2, 2015
    Last edited by a moderator: Sep 7, 2017
  5. J Ingram

    J Ingram Formula Junior

    Aug 12, 2006
    423
    Moreno Valley, CA
    Full Name:
    Jesse Ingram
    The interior is tan with no hole or cracks in the seats. I don't have a pic of the interior but it matches the outside.
     
  6. itsablurr

    itsablurr Formula Junior
    Silver Subscribed

    Dec 9, 2005
    953
    Carlisle, MA
    Full Name:
    Matt
    I would say a selling price around $55k.
     
  7. Meister

    Meister F1 Veteran
    Silver Subscribed

    Apr 27, 2001
    5,204
    Duluth, MN
    Full Name:
    The Meister
    A little more than you have into it.
     
  8. J Ingram

    J Ingram Formula Junior

    Aug 12, 2006
    423
    Moreno Valley, CA
    Full Name:
    Jesse Ingram
    Thank you for the replies.
     
  9. hensleyac

    hensleyac Karting

    Jun 2, 2015
    141
    Estero Florida
    Full Name:
    Chris
    Beautiful pic!
     
  10. Wade

    Wade Three Time F1 World Champ
    Rossa Subscribed Owner

    Mar 31, 2006
    31,058
    East Central, FL
    Full Name:
    Wade O.
    Are you selling?
     
  11. ernie

    ernie Two Time F1 World Champ
    Owner Lifetime Rossa

    Nov 19, 2001
    22,002
    The Brickyard
    Full Name:
    The Bad Guy
    With that low of miles and a fresh belt service and if the rest of the car is pristine, I would price it at the top of the market. Especially if you are in no hurry to sell it.
     
  12. dapper

    dapper Formula Junior

    Nov 10, 2003
    710
    Bristol, UK
    Full Name:
    Dave
    Don't know where us market is right now But at that mileage and if major done 55k seems on the low side
     
  13. SoCal1

    SoCal1 F1 Veteran
    Silver Subscribed Owner

    Jun 14, 2011
    8,093
    SoCal LA/OC
    Full Name:
    Tim Dee
    I think the 348 may start seeing or pass the 355 cars in the future in value. Unlike 355s I don't think mileage will be much a concern
    Keep them in good shape
     
  14. 4rePhill

    4rePhill F1 Veteran

    Oct 18, 2009
    7,777
    Worcester, England
    Full Name:
    Phill J
    I'd struggle to see that happening TBH.

    The reasons being:

    1) The 348's styling is not universally loved, and it's very 80's styling is not viewed as classic Ferrari styling, whereas the 355's styling is seen as being classic Ferrari styling.

    2) Prospective owners tend to be guided by the cars reputations, rather than the reality of what each car is like to own and drive.

    Like it or not, the 348 comes with a reputation for being one of the worst Ferrari's ever made.
    To this day, reviews talk of nervous handling (and not just at the limit), of light and vague steering at high speeds, love it or hate it styling and of disappointing performance compared to it's rivals from the time.

    The 355 on the other hand carries a reputation for being one of the all time greats in Ferrari history, and a car that moved the game on for the company (often noted as being the car that the 348 should always have been).
    The styling is loved by Ferrari fans due to the fact that it is all about curves and rounded edges, rather than the sharp edge design of some aspects of the 348, the return of the more traditional round tail-lights was well received, it's handling is raved about, as is its performance.

    The fact that the more mechanically simplistic 348 is in many ways easier (and cheaper) to live with does not come into the argument.

    The fact that in reality, the 348 is nowhere near as bad as it's reputation would lead you to believe, does not come into the argument.

    The fact that the 355 suffers as many issues as the 348 does (some which cost a sight more to put right than the 348's issues do!), again doesn't come into the argument.

    The fact that the 348 is rarer than the 355 doesn't come into the argument.

    The general perception is, the 348 is a poor Ferrari with issues, whilst the 355 is viewed as being Ferraris saviour that can do no wrong, and the reputations that have been made on these perceptions are a major factor in their future values.
     
  15. SoCal1

    SoCal1 F1 Veteran
    Silver Subscribed Owner

    Jun 14, 2011
    8,093
    SoCal LA/OC
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    Tim Dee

    Yeah I been down that road of thought but the 348 is just a visceral car to drive, it excites all the sense's and requires you to drive the car.

    I have 355's and they are mashed potato's to the 348's deux fois frits yumminess :)

    They are sister cars however time will separate them further then they are.
    2 models so close yet so very different. I love them both.

    :)
     
  16. bjwhite

    bjwhite F1 Rookie
    Silver Subscribed

    Mar 17, 2006
    3,710
    Seattle, WA
    Full Name:
    Brian White
    Darn it. Why couldn't it be silver on red? I'd come buy it from you and drive it home.
     
  17. ///Mike

    ///Mike F1 Veteran

    Dec 11, 2003
    5,990
    Bugtussle
    With all due respect, I do not believe that this is the case in any way, shape, or form. While I had not studied them in depth until I started shopping for my car, I was around them a fair amount and therefore had at least more familiarity than the average car guy. The only negatives I ever heard were from people who had bought bottom-feeder cars or incompetent owners who did not know how to properly maintain a car (often the same kind of person).

    When I started looking for a Ferrari in earnest I considered both the 348 and the 355. I did a good bit of reading, much of it on this very site. It didn't take me long to cross the 355 off of my list, even though I'd lusted after them since the first pic of one appeared on the cover of Autoweek back in '94. The 355 simply has too many non-essential systems that can and do fail, and which continue to pose potential problems even when they're in good working order. Being a simpler, more basic car means that a 348 is easier to sort in the long run. Even if (big IF) the 348 has more innate problems than the 355, once they're addressed they pretty much become non-issues.

    In all of my reading I found *far* more positive press about the 348 than negative. Maybe I wasn't reading the right (i.e. wrong) articles, but in that case why assume that anyone else would run across all this "negative press" the 348 has supposedly garnered over the years?

    By far the most negative comments I've read about the 348 have been in posts such as this. Often, those posts read a lot like this one-- about how the 348 is a better car the people think it is. Okay, except how many people truly think that the 348 is a POS? Anyone who has owned or driven a good one knows that they're great cars. So where is the misinformation coming from? Years old articles criticizing the model that are long out of print and difficult to find? IMO, no-- most of the negative vibes regarding the 348 come from posts just like this one.

    I have said it before and I will say it again here-- 348 owners are often their own worst enemy when it comes to the respect and value accorded the model. Any PR guy will tell you that the absolute worst way to respond to a false rumor is to continue to repeat it. When left to its own devices, history usually eventually finds the truth. If it is your goal to keep prices depressed while you corner the market, I can understand why you would say these things. But if you truly like the cars and want them to achieve their rightful place in history, I can't understand perpetuating negative myths about the cars.

    Human nature assumes that where there's smoke there's fire. So if you spend a lot of time telling your friends how your new girlfriend isn't ugly like people say, they're pretty much going to expect her to be a dog before they ever even meet her. Every time we discuss alleged negatives that we know are untrue, we give credence to those negatives. On its merits, the 348 is an excellent car. As owners, we should give it the opportunity to show that by representing it in the best possible light.

    Best Regards,

    ///Mike
     
  18. mclaudio

    mclaudio Formula 3

    Dec 13, 2003
    1,130
    Seattle area
    Full Name:
    Claudio

    When I was considering a replacement for my Euro 308, I drove a 348 and a 355. Maybe it was unique to the car, but I didn't like the 348's cable shifter compared to my 308's and my ex-328's shifters. With the negative views I read regarding the 348 - styling, engine-out maintenance, electronics, ill-handling, etc., I took it off my list. OTOH, I liked the driving experience in the 355. However, the 355's reputation for high maintenance scared me enough to stay away. Instead, I bought my second 328.

    Like you, I've liked the 355 since I first saw magazine photos and write ups. Having eventually decide to follow my heart and buy a 355, I only wish I did so sooner. So far so good. Maintenance has been reasonable; I actually appreciate the value of engine-out services - much like proper race cars.

    My experience with my 355 has me reconsidering a 348 Challenge as a future car.
     
  19. ///Mike

    ///Mike F1 Veteran

    Dec 11, 2003
    5,990
    Bugtussle
    I'd be interested to get your take after you drove three or four 348s, simply because my memory is pretty awful and it's been a long time since I've had the opportunity to jump for one Ferrari into another. My general experience has been that the shifter feel is more down to individual cars than it is specific models. I've driven examples of each that clearly shift better than others in the same model range. The 348 gets a lot of knocks for its shifter, but my own iffy memory places the good 348s in the same range as 308s-- they both require a firm and deliberate hand but are quite gratifying to shift when everything is set up correctly.

    I think I've mentioned this before, but I hated th 348 when it first came out. I was a devout fan of the 308, and the 348 looked nothing like it... which irked me no end. By the time the 355 appeared it seemed more like a smoothed out version of the 348-- kind of a throwback to the sexy lines of the 308. Now, I like the lines of the 348 at least as much as I like the 355... and I like the 355 a whole, whole bunch. :) The 308 is absolutely iconic to me-- it's the first Ferrari I paid real attention to. They still look perfect to my eye, even all these years on.

    The 355 has the power and the ergonomics, the 308 has the simplicity and old school Ferrari feel. But the 348 splits the difference-- sure wish it had another 200 hp, but it's a nice step up from most 308s, yet the driving position is much improved (especially with a steering wheel spacer). But it still retains the old world feeling of the 308, albeit with a less bespoke quality to the interior appointments.

    In truth, all three are absolutely wonderful cars, and each is far more evocative than the jellybears cars (which have their own set of attributes). I'd love to have a Euro dry sump 308 sitting in the garage next to a 348 CH and a '95 GTB (for those days when I wanted a bit more civilization and power). What I can't understand is why people keep acting is though the 348 is some sort of "red headed stepchild", when anyone familiar with them knows they have their own unique set of attributes that are as appealing as those of the 308 and 355.

    Which brings me back to my original point-- every single Ferrari is a very special car, but sometimes those closest to them find it easier to focus on the flaws instead of the big picture. In the past we've seen cars like the 246, 308GT4, and 365GTC/4 derided as lesser offerings from Maranello. But over time these cars have begun to be seen for what they truly are-- unique and special cars from the most special of automakers. The same will inevitably happen for the 348. That will happen more quickly if we owners will quit apologizing for what is by all rights a great car on its own merits.

    Cheers,

    ///Mike
     
  20. 88Testarossa

    88Testarossa Formula 3

    Sep 25, 2012
    2,380
    Annapolis, USA
    Full Name:
    Al
    Had a buddy sell his after the major for $25,000 to a Ferrari tech. Low compression, easy fix though. I tried to buy it to no avail.

    He wound up buying a gorgeous black 360.


    Sent via itty bitty electrons
     
  21. driveitdaily

    driveitdaily Formula 3

    Jul 20, 2013
    1,041
    lake ariel pennsylva
    Full Name:
    john
    rarity can contribute to value , a 348 is a rare car ,especially a late spider. a 355 is not very rare.and as far as ferrraris go , a 355 is mass produced , what did they make around 15,000 ?
     
  22. 97 Spider

    97 Spider Formula 3
    Rossa Subscribed

    Dec 15, 2012
    2,200
    Texas
    Full Name:
    Brian
    Not quite, there were around 8650 348s made and 11,200 355s made. There were more 355 spiders made so 348 and 355 B and TS numbers are pretty comparable.

    The 360 they started to take off with over 17,800 made.
     
  23. elgin328

    elgin328 Formula 3

    Apr 11, 2004
    1,029
    near Atlanta
    Full Name:
    Mark
    Only 1090 348 spiders on the planet!! Only 556 came to the U.S.A. Pretty rare too me.

    and I own # 98582 :)
     
  24. albert328gts

    albert328gts Formula 3
    Silver Subscribed

    Oct 31, 2003
    1,401
    California
    Those numbers posted are correct, 355's sold well and from what I have understood total number produced including all models is well over 16,000. Cant compare that to the 348's, which was about half. No matter which car you like the numbers don't lie, and in Ferrari speak that just means that one of them in a few years is going to be worth more. I don't need to tell anyone on this board which one it will be, don't want to start a flame war has I love both models but went with the lower number production car, not into power steering and useless maintenance the 355 had and continues to have. Just saying!
     
  25. SoCal1

    SoCal1 F1 Veteran
    Silver Subscribed Owner

    Jun 14, 2011
    8,093
    SoCal LA/OC
    Full Name:
    Tim Dee
    Question is how many are remaining on the road? LOL So many burnt and were crashed.
    I see so many in the junk yards vs 348s
     

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